$700 B Bailout

Parking Lot

I know we have some economists on this site. Educate me. Pros, cons...

Personally, I'd love nothing more than to let every single one of the affected companies fail. But the ripple effect pretty much removes that as an option. I can't see this actually doing anything but postponing the inevitable though. If less than half of this bailout ends up in personal bank accounts, I'll be shocked.

*I know this was touched on in other threads, but I thought it was worthy of its own.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

quick fix to keep the credit line moving. might work, might not. something did need done. this administration probably shouldn't have waited until all the animals were out of the barn, before closing the door. i would like nothing more then these high priced C.E.O's going down with the ship, but that only hurts non players in the end

__________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt."
courtesy of 53fan

Not sure if there are any Easterbrook fans here, but this article does a great job summarizing things in a very general way. This country is going to hell. I love the fact that all of those responsible have profited hugely and will bare no accountability in this mess.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

quick fix to keep the credit line moving. might work, might not. something did need done. this administration probably shouldn't have waited until all the animals were out of the barn, before closing the door. i would like nothing more then these high priced C.E.O's going down with the ship, but that only hurts non players in the end

You are so from Lancaster. lol.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

What's truly ridiculous is that every quote looks like it should come from the Onion. But no, that's our government, people.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

I don't understand why we have to BUY all the bad loans. Why can't the gov't just insure the bad loans? Seems like that'd be more cost effective?

Well one of the issues they're having is actually pricing the bad loans. In other words determining how much they're worth or how worthless they are. So from an accounting standpoint it's tough to add that type of asset to your sheets.

On CNN they are reporting that the house and senate have announced agreeing upon the principles of the bail out. Amazing how fast these clowns can start working together when money is involved.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

What I don't understand is how this whole thing has gone so far and unnoticed by so many people. You have the president, congress, all the other people in Washington but then more shocking is all the people on Wall Street which did not see this coming. I'm not talking about the people who profitted from this but all the annalist who study this stuff day after day.

everyone, and i mean everyone, was making money( and tons of it) ill bet you cant find one member of congress that had not taken money from Fannie or Freddie. everybody getting paid, who is going to be the hero? none of those clowns that we've elected.

__________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt."
courtesy of 53fan

What kills me is the ZERO Accountability that has been observed in this situation. Everybody just talking about what a crisis this is and no one wants to go after those responsible. The only plausible reason for that is that our legislators ARE some of the ones responsible, either by direct intervention or inaction due to lobbying.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

What laws where broken. Just because someone did a poor job and gave out a bunch of bad loans does not make it illegal. Is your stock broker breaking laws when he invest your money in poor stocks an you loss money? No. Have laws been broken? At this point we don't know but I'm sure we as tax payers will pay for a big long investigation into al of this.

Paying for an investigation into this is the one thing I approve of them spending my money on. If this was just a matter of a big "mistake," that's one thing, not that it removes accountability. BUT- if it turns out (and it will) that these firms were intentionally employing shady business practices that resulted in the collapse we've seen, I want those responsible held accountable. Jailed, assets confiscated, the whole 9 yards. Will it happen? Not in a million years. Maybe one or two examples will be made, but by and large I can't see any true measure of punishment coming down on "all" of those responsible.

__________________ "All natural institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit."

Well one of the issues they're having is actually pricing the bad loans. In other words determining how much they're worth or how worthless they are. So from an accounting standpoint it's tough to add that type of asset to your sheets.

Their are all types of challenges with this crap.

The cost of insuring the loans would almost certainly be less than 700 billion. If it costs 500b then we saved 200b. The caveat has to be that the gov't gets the properties that defaulted. Banks get thier money. The gov't gets the houses and sells them off.

What kills me is the ZERO Accountability that has been observed in this situation. Everybody just talking about what a crisis this is and no one wants to go after those responsible. The only plausible reason for that is that our legislators ARE some of the ones responsible, either by direct intervention or inaction due to lobbying.

EVERYONE was responsible. Banks, legislators and regular people. We all share in the blame on this to varying degrees.